Betsson expects record revenue for third quarter
The operator has seen high customer activity in the quarter.
Sweden.- Betsson has announced that it expects to report record revenue for Q3 following strong customer activity in the quarter. It said revenue was likely to amount to between €199m and €201m, a quarterly record and a rise from €170m in the same quarter last year. It expects EBIT to also touch a record high, forecasting in the region of €37.5m to €39m, compared to €31.7m in Q3 2021.
The main sources of the growth in revenue were Central and Eastern Europe and Central Asia (CEECA) and Latin America, which is now Betsson’s biggest market. Latin America accounted for €45.7m of Betsson’s €186.3m revenue in Q2. The fact that European football leagues started early due to the upcoming Fifa World Cup in Qatar also helped bring forward sports betting results.
In the trading update, it forecast a sportsbook margin of 8.3 per cent, level with the past two quarters but up from the average 7.7 per cent of the eight quarter before that. Full quarterly results are expected on October 26.
The operator said: “The sportsbook continues to develop into a more important part of the total business for Betsson, thanks to investments to strengthen the product in recent years and geographical expansion to several new markets.”
Last month, Betsson Group launched online gambling in Mexico, expanding its presence in Latin America. The company is operating online casino, live casino and sports betting at betsson.mx.
